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!@#$%! · 02.18.2009, 04:33 PM

ps-

well well... more gloom...

Fed Downgrades Economic Outlook, Says Recovery to Be Slow
By Neil Irwin and Annys Shin
Washington Post Staff Writers
Wednesday, February 18, 2009; 3:07 PM

The U.S. economy is not likely to rebound until the second half of this year, and even then, the recovery is likely to be "unusually gradual and prolonged," leaders of the Federal Reserve have concluded.
In a projection released today, the Fed's policymaking arm, known as the Federal Open Market Committee, said the economy's performance over the next three years would be weaker than had been predicted just three months ago. During the committee's last meeting, a few members said it may take as long as five or six years before the economy resumes a more sustainable rate of growth, according to minutes from the January meeting.

Fed officials believe the unemployment rate will reach as high as 8.8 percent by year's end and will continue to increase through early 2010 before tapering off. The unemployment rate is currently 7.6 percent.

The central bank has moved aggressively to blunt the impact of the downturn, in part by establishing unconventional programs designed to make credit more widely available to consumers and businesses.

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02.18.2009, 04:33 PM	#20
!@#$%! invito al cielo Join Date: Mar 2006 Location: mars attacks Posts: 42,732	ps- well well... more gloom... Fed Downgrades Economic Outlook, Says Recovery to Be Slow By Neil Irwin and Annys Shin Washington Post Staff Writers Wednesday, February 18, 2009; 3:07 PM The U.S. economy is not likely to rebound until the second half of this year, and even then, the recovery is likely to be "unusually gradual and prolonged," leaders of the Federal Reserve have concluded. In a projection released today, the Fed's policymaking arm, known as the Federal Open Market Committee, said the economy's performance over the next three years would be weaker than had been predicted just three months ago. During the committee's last meeting, a few members said it may take as long as five or six years before the economy resumes a more sustainable rate of growth, according to minutes from the January meeting. Fed officials believe the unemployment rate will reach as high as 8.8 percent by year's end and will continue to increase through early 2010 before tapering off. The unemployment rate is currently 7.6 percent. The central bank has moved aggressively to blunt the impact of the downturn, in part by establishing unconventional programs designed to make credit more widely available to consumers and businesses. more
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